US Head of Credit Risk Management - Wealth Management

Job Description:

Job Title: US Head of Credit Risk Management - Wealth Management

Corporate Title: Managing Director

Location: New York, New York

Details of the Division and Team:

About Chief Risk Office (CRO)

The Chief Risk Office function has Group-wide responsibility for the management and control of all credit, market, operational, enterprise and liquidity risks and has the responsibility of continual development of methods for risk measurement, frameworks and creating a bank wide strong risk culture.
 

About the Wealth Management (WM) business in the Private Bank
Deutsche Bank's Wealth Management business is one of the largest wealth managers worldwide. We offer our clients a broad range of traditional and alternative investment solutions, as well as comprehensive advice on all aspects of Wealth Management.
As a trusted partner of wealthy individuals and entrepreneurs, family offices and foundations, we create lasting value for clients.
We specialize in developing bespoke solutions for our clients around the world, for instance wealth planning across successive generations and international borders, asset management with individual risk management, loans and deposits.
All this is possible thanks to our global network, our many years of experience and our close collaboration with the Corporate Bank, Investment Bank and DWS.

The role will have direct reporting to the Global Head of Credit Risk - WM.

Your key responsibilities as a Regional (US) Head of Credit Risk Management (CRM) WM, will be:

• Review and approve transactions booked under the WM business in US and judiciously support the growth of WM’s lending book in US.
• Portfolio coverage will include large commercial real estate transactions, as well as structured loans (including lending against illiquid securities - requiring fundamental equity / collateral valuation incl. DCF based analysis) as well as regular Margin Lending (against liquid securities), Capital Call facilities etc.
• Interface directly with front office staff on credit approvals, credit requirements and relationship matters; interface with clients (where required). Work with the Lending team (1st line of defense) and Relationship Managers to manage risk and try to find an optimal solution especially on challenging asks. Provide timely, transparent communication on the decision-making including risk analysis and approval conditions to the key stakeholders.
• Robustly monitor the portfolio and ensure pockets of risks within the portfolio are timely identified - be well aware of global, regional and local market events and their potential impact on the portfolio. Ensure portfolio quality remains satisfactory and any risk concentrations and risk limits do not exceed defined risk appetites and are compliant with risk policies and regulations.
• Work with both internal and external auditors as well as regulators to ensure that audits progress smoothly and that any issues raised are resolved promptly.
• Maintain a clean shop with good discipline ensuring trades are properly booked / recorded / covenants and conditions timely monitored / credit terms correctly documented / risk reporting systems contain timely and accurate information.
• Support any ad hoc projects assigned on a regional or global level.
• Very importantly, invest time to provide guidance and on the job training esp. to the less experienced members of the team to enable them to be able to independently assess, constructively challenge, run with the transactions and prepare well-articulated credit memos (including helping them develop the skill to write succinctly).

Your skills and experience:

• Extensive relevant work experience in corporate / investment banking credit and structured finance in major International Financial Institutions.
• Understanding of Wealth Management lending products (esp. Commercial Real Estate). In addition, good understanding of loan structures, loan documentation, and knowledge of structured financial products, derivatives and associated risks.
• Possess relevant work experience (preferably with US counterparties / US market) that helps provide timely, meaningful feedback.
• Proven track record in working with front office to improve deal structures to protect the organization.
• Strong communication skills (both written and verbal